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CNBC's "Fast Money"

A Mixed Message for Markets, and Sheila Bair Weighs in on FTX 11/17/22

CNBC's "Fast Money"

CNBC

Investing, News, Business

3.91.3K Ratings

🗓️ 17 November 2022

⏱️ 44 minutes

🧾️ Download transcript

Summary

Markets dropped on Thursday after some hawkish talk from Fed officials raised the prospect of a recession and sent interest rates higher. So were we too quick to celebrate the recent reads on inflation? Plus the latest twists and turns in the implosion of crypto exchange FTX. What former FDIC chair Sheila Bair has to say about the industry and its impact on the banking system. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0

Right now on fast mix messages for the markets while mortgage rates,

0:04.6

freight rates and energy prices are all falling. There's fresh hawkish rhetoric

0:08.2

from the Fed. You were Session chatter and interest rates are rising again.

0:11.4

So will this new tug of war keep stock stuck in neutral? Plus FTS fall out

0:16.1

two boutique banks that bet big on crypto getting crushed. One in particular

0:20.0

silver gate cut in half just this month. The latest revelations about SPF and

0:24.0

the jaw dropping comments from the new CEO of FTS. And later charting energy

0:28.4

one of our traders sticking with his call that the best days of the black gold

0:31.9

boom are behind us right now. I'm Melissa Lee. This is fast when you rely

0:35.6

with the Nasak market site on the desk tonight. Carter worth Courtney García

0:38.6

Guaidami and Tim Seymour live from where else in city. We start off with a

0:45.4

couple of Fed officials rainy and expectations for change in policy. James

0:49.4

Bullard of the St. Louis Fed saying today quote, the policy rate is not yet in

0:53.4

a zone that may be considered sufficiently restrictive. And that's so far

0:57.2

there's just been a limited effect on inflation. Meanwhile Kansas City's

1:01.4

ester George points to a labor market so tight that inflation can't be brought

1:05.8

down without some quote real slowing. These comments come even as we've seen

1:10.2

some relief on pricing pressures in recent weeks better than expected CPI and

1:14.1

PPI numbers. Mortgage rates with their biggest drops since 1981 and gas prices

1:18.9

are getting back to where they were before Russia's invasion of Ukraine still

1:22.7

interest rates went higher today. The spread between 10 and 2 year treasury is

1:26.6

often seen as a recession indicator in a new 40 year low. So what are the

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